03-Mar-2025 17:20

COMEX Copper futures rose today amid mostly steady cues from equities and a slide in LME Copper inventories during last week. Chinese manufacturing data also boosted sentiments. The red metal also benefited from the weakness in US dollar and currently trades at $4.58 per pound, up 0.88% on the day. In Asian equities, China's Shanghai Composite index eased 0.12% while Hong Kong's Hang Seng added 0.28%- both the indices stabilizing after hefty losses in last session. Japanese Nikkei index jumped 1.70% on steady manufacturing data. European stocks stayed largely positive with German DAX zooming up 1.16%. The US stocks recorded excellent gains on Friday despite mixed economic readings. The S&P 500 and the tech-heavy Nasdaq Composite spiked around 1.6%, while the Dow increased 1.4%. In a key data for Copper, China's manufacturing economy expanded at a faster rate in February. The headline seasonally adjusted Purchasing Managers' Index (PMI) improved to a three-month high of 50.8 in February. That was up from January's 50.1 and represented the best outcome for the headline index since last November.

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